Gasoline Prices Prediction

From this source:

Gasoline prices could approach $5 a gallon by Memorial Day and stay a record levels for much of the summer, according to a forecast by GasBuddy.com.

Gas prices always spike in the summer, but the 2012 Gasbuddy.com Price Outlook predicts this summer will break records.

“It looks like it might be the most painful year at the pump that we have ever seen,” senior analyst Patrick DeHaan said....

If the above materializes, Barack Hussein Obama will feel the pain at the ballot box. And the rest of us will feel the pain in our wallets as the cost of goods soars.

Obama's Moratorium On Drilling Destroys Drilling Company

Way to go, Barry. You brought a lot of change to the Gulf region.

From American Thinker:

On top of tens of thousands of workers losing their jobs when Obama imposed a drilling moratorium by executive order (and fudging what scientists and experts believed in order to justify his moratorium) now comes news that Seahawk Drilling, a major publicly-held drilling services company, has declared bankruptcy due to the sharp decline in Gulf drilling work.

[...]

Employees will be let go; shareholders are suffering big losses as the stock plunges. Gulf communities have already been stricken by big job losses and declines in state tax revenues. We have become even more dangerously dependent on overseas sources of crude and prices have skyrocketed as Obama turned the handle to the off position when it comes to Gulf oil drilling....

The effects on the oil-drilling-based communities in the Gulf will be felt for years to come as the region sinks into its own regional economic depression.

Obama Administration Delays Accepting Foreign Help For BP Oil Spill

From Gateway Pundit:

As the Gulf Coast shores continue to be coated with crude, the Obama Administration has only accepted assistance from 5 countries out of 28 who offered to assist the US with the cleanup.

BHO is too busy golfing and attending baseball games to tend to business in the Oval Office.

See the chart and more information at Gateway Pundit. Note that all the countries offering assistance expect reimbursement.

Does Obama Have A Clue...

...as to how much economic damage his ban on offshore oil drilling can cause?

From Yid With Lid:

According to the Wood Mackenzie Research and Consulting show the six month moratorium will result in the following consequences:

* The 33 drilling platforms which support some 1,400 workers, offshore and onshore will be forced to shut down

* As many as 46,200 jobs could be idled by the moratorium

* These are well-paying jobs – $5-10 million per month, per platform in lost wages

* Long-term job losses as a result of the moratorium could reach 120,000 by 2014

* The State of Louisiana estimates that the deep-water drilling suspension will result in a loss of 3,000-6,000 in-state jobs in the first 2-3 weeks and potentially more than 20,000 Louisiana jobs within the next 12-18 months. Louisiana estimates that if the suspension of deep-water drilling activity continues for long period, the state could lose more than $20,000 in the next 12-18 months.

Furthermore:

[P]reventing offshore oil exploration makes the US more dependent on foreign oil and reduces state revenue during a time when states have an “over-spending” problem...

As Yid With Lid commented:

So if his freeze is hurting the economy why is the President going ahead with the freeze? I submit to you that he doesn't know what else to do. The president has been running the country be finding scape goats. During the porkulus it was the likes of Rush Limbaugh, for cap and trade it was big oil, then the health care bill came up and it was those evil insurance companies followed by those big bad banks. This is a president who doesn't know how to lead only knows how to tear things down. Now the evil ones are BP, Big Oil, off shore drilling and anyone who thinks global warming is a fraud. This president does not know how to lead, to build a consensus, to get people behind a program, sadly all he knows how to do, is to create barriers and call people names.

The Obama administration is an epic fail. Can America survive this failure?

Leading Oil Expert Warns Oil Supplies are Running Out Fast - This is Absolute B.S.

From the Independent:

The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.

Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris, which is charged with the task of assessing future energy supplies by OECD countries.

I have shown time and again, here at AB, that the United States has more than enough oil to feed it's own need, and then some.

Saudi Arabia is far and away the world's leading oil-producing nation. We are far and away the world's leading oil-consuming nation.

And yet, we already provide 50% of our own oil.

And, in the past few years, we have discovered oil fields in Montana/Dakotas, and in Colorado, which have FIVE TIMES AS MUCH OIL AS SAUDI ARABIA.

In fact, America has enough oil to be the #1 oil-producing nation in the world:

According to NPR, the Rocky Mountains contain three times the oil of Saudi Arabia.

An oil field was just recently discovered in the South Dakota/Montana region which has three times as much oil as the Rockies.

There is also a tremendous amount of oil in the ANWR region.

All that oil, and we don't drill for it.

Why?

Because of pressure from environmentalists.

We could be winning the battle for energy independence, but instead, we choose to lose, and thus forfeit our profits into the hands of Jihadists and Communists the world over.

I repeat, we are losing because we choose to lose, and we do so, primarily because of pressure from environmentalist groups.

That's like a football team choosing to lose because of pressure from their own cheerleaders.

MORE:

Massive Oil Deposit Could Increase US reserves by 10x

America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana.

With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951.

And, when the report came out, here's what it said:

Report: 4.3 Billion Barrels of Oil in North Dakota, Eastern Montana

BISMARCK, N.D. – The government estimates up to 4.3 billion barrels of oil can be recovered from the Bakken shale formation in North Dakota and Montana, using current technology.

The U.S. Geological Survey calls it the largest continuous oil accumulation it has ever assessed.

IN OTHER WORDS, EVEN MORE THAN THEY INITIALLY EXPECTED.

THIS POINTS UP A VERY IMPORTANT FACT TO UNDERSTAND. WE KEEP FINDING MORE OIL ALL THE TIME.

ESTIMATES KEEP GETTING HIGHER AND HIGHER ON THE AMOUNT OF OIL WHICH CAN BE RECOVERED.

THIS IS BECAUSE TECHNOLOGY FOR DETECTING OIL, AND DRILLING FOR IT, KEEPS GETTING MORE AND MORE ADVANCED.

THE KNOWN RESERVES OF OIL ARE HIGHER NOW THAN EVER BEFORE IN HISTORY, AND YET THE PARISIAN EXPERT QUOTED IN THE INDEPENDENT WOULD HAVE US BELIEVE WE ARE RUNNING OUT OF OIL.

WHY DO YOU THINK THAT IS?

IS SHE IGNORANT, OR DOES SHE SIMPLY HAVE AN ANTI-OIL AGENDA?

Here's a paper written on the subject by Dr. Bill Kovarik from Radford University.

The Oil Reserve Fallacy

What say ye??

Chavez just seized some American owned companies at military gunpoint. What says his good friend Obama? Dare we use violence against violence? Will Obama pull out a daisy or a knife or . . .

Is a "pay for the company or we bomb you" policy wrong? They just stole our stuff. Would you use a knife on a mugger if you had it? Or do you just let him have your wallet and let it be his karma? No blood for oil! Does non-action invite copycats? Who?

What does history teach us? Walk softly and carry a big stick? He kept us out of war? Munich? What would the Greeks do? I can tell you what the Roman's would do! Would you follow the turn the other cheek method, my Christian friends?

Let’s Break OPEC’s Monopoly

Check out this organization: NozzleRage.com.

They have one good action each of us can take.

Watch the video and Mister Rogers will explain it to you. The video is two and a half minutes long.

Cut Off Money To The Middle East

The following link goes to a list of oil companies, and shows the percentage of their oil that comes from the Middle East. Where I live, we have mostly Arco, Chevron, and Shell stations. I see on the list that Chevron has one of the highest percentages of Middle East oil and Shell has one of the lowest. I've been a Chevron customer for many years, but that just ended. Until one of the terror-free gas stations opens up in my area, Shell will be getting all my gas money.

Oil Companies' Persian Gulf Percentages

Oil Jihad

This is from the Foundation for Defense of Democracies:

FDD's Walid Phares argues that that while both Washington and Wall Street are culpable for the financial meltdown, there may be a third player in the game: circles inside OPEC who seek to weaken America's ability to fight a war against Islamist terrorist regimes and movements, as well as to prevent America from achieving energy independence. Dr. Phares notes:

Sheikh Yussuf al Qardawi, Muslim Brotherhood ideologue and mentor of the Qatari-funded channel, spoke openly of Silah al Naft, i.e, "the weapon of oil." Indeed, it was called a weapon — as in a warfare situation — and most likely it was used as such. Of course, the producing "regimes" will deny the existence of a real strategy to bring the US to its knees by striking at its pumps. They will dismiss statements made by emirs and commentators in this regard. The "field Jihadists", however, won't deny the existence of such a battlefield.

For years now, Salafist web sites and al Qaeda spokespersons have loudly called for an "oil Jihad against infidel America and its lackeys." Online material is still circulating. But more revealing are the official speeches by Osama Bin Laden and his deputy on the "absolute necessity to use that weapon."

Read more here: Foreign Force Waging War Against U.S. Economy.

And here: OPEC's Heavy Hand.

Would you shake hands with a Jew?

A reporter in the Apartheid kingdom does ''man in the street'' TV interviews and asks the question ''Would you, as a human being, shake hands with a Jew?

Related Resources:

1. Then And Now -Similarities between past Nazi propaganda and current day Islamic anti-Semitic propaganda.

2. Our Friends the Saudis Explain 200 Lashes for a Rape Victim

3. Bush Declared Sunday Religious Freedom Day, 2008...From Saudi Arabia!.....

4. The Saudis have radicalized 80% of US mosques.
(The situation isn't any better in the U.K).

5. Speaking in the religious apartheid city of Riyadh, President Bush called on our friends the Saudis and OPEC to increase oil production in order to bring prices down. The Saudis smiled for the cameras, and said, “No.”

6. Jimmy Carter-- another politician bought and paid for by Saudi oil money?

7. Counterterrorist Blog: Surprise, Surprise: Yet More Evidence that the Majority of Foreign Fighters in Iraq Come from Saudi Arabia.

8. Congress is unlikely to block U.S. plans to sell $123 million worth of sophisticated precision-guided bomb technology to Saudi Arabia.



9. IBD editorial:

The Shame Of Groveling For $100 Oil

All the begging and bribing only proved Saudi Arabia still has us over a barrel of oil — and in the cross hairs of Islamic extremists, we might add.

Despite rhetoric about our so-called ally’s cooperation in the war on terror, it’s still teaching anti-Western hatred in its textbooks and schools, still spreading radical Wahhabism to our shores, still freeing terrorists, still giving immunity to al-Qaida financiers such as Yasin Kadi, and still allowing clerics to rally Saudi’s sons to join the al-Qaida insurgents in Iraq.

[...]

Not much has changed in Saudi Arabia over the past six years. Only now, it’s richer than ever, flush with petrodollars that are helping finance the jihad. Which means Americans are helping finance their own destruction every time they go to the pumps.

Given this chain of events — the bigger bankrolling of jihad, along with a looming recession — the mind boggles that our government’s only recourse is to genuflect before oil sheiks. (Read it all)

10. More about Saudi Arabia - Anti-Semitism - Women's rights - Islamic extremism - Videos.



(Cross-posted on A Deeper Look)